[106 Pages Report] The microscope software market is projected to reach USD 780 million by 2023 from USD 414 million in 2018, at a CAGR of 13.5%. Growth in this market is driven by the rapid adoption of imaging solutions, the development of new microscopy methods, and increasing volumes of biological imaging data.

By type of microscope, the Raman microscopes segment is expected to be the fastest-growing segment in the microscope software market during the forecast period.

The Raman microscopes segment is projected to grow at the highest CAGR during the forecast period. Growth in this application segment is mainly driven by the growing adoption of Raman microscopes among end users due to the various advantages associated with these microscopes. Raman microscopes are cost-effective and non-destructive and provide users with the ability to acquire spectra within seconds.

By application, the life sciences segment is expected to account for the largest market share during the forecast period.

The life sciences segment is expected to account for the largest share of the market in 2018, and this trend is expected to continue during the forecast period. The large share of the life sciences segment is primarily driven by the rapid adoption of imaging solutions in the life sciences field due to available funding.

North America is expected to account for the largest market share during the forecast period.

North America is the major revenue-generating region in the global microscope software market. Factors such as the strong life sciences industry and a large base of academic and research institutes in the US are driving the growth in this region. Similarly, Canada is also a potential market for microscopy owing to favorable government support and the growing academic excellence in nanotechnology-based R&D programs.

Key Market Players

The major microscope software vendors include Danaher (US), Oxford Instruments (US), Carl Zeiss (Germany), Olympus (Japan), Nikon (Japan), and Thermo Fisher Scientific (US). Danaher is the leading player in the market. The company has the broadest portfolio in the market since two of its subsidiaries—Molecular Devices and Leica Microsystems—are leaders in the microscopy business. These two companies’ combined have 14 microscopy software products on the market.

Oxford Instruments serves end users in various industries such as life sciences, astronomy, and physical sciences through its two subsidiaries—Andor Technology and Bitplane. The company offers products for image acquisition, 3D visualization, and analysis, as well as software development kits, deconvolution software, and image-stitcher software. Due to its broad portfolio and established customer base, Oxford Technology holds a strong position in the market.

The study involved 4 major activities in estimating the current size of the microscope software market. Exhaustive secondary research was done to collect information on the market as well as its peer and parent markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both the top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation procedures were used to estimate the market size of segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources such as Hoovers, Bloomberg BusinessWeek, Forbes, and Dun & Bradstreet have been referred to so as to identify and collect information useful for a technical, market-oriented, and commercial study of the microscope software market. These secondary sources included annual reports, press releases & investor presentations of companies, white papers, World Bank (US), Organisation for Economic Co-operation and Development (OECD), US Food and Drug Administration (FDA), World Health Organization (WHO), Microscope Society of America, European Microscope Society, National Institutes of Health (NIH), Austrian Society for Electron Microscopy, German Society for Electron Microscopy, and the Journal of Microscopy.

Secondary data was collected and analyzed to arrive at the overall market splits, which were further validated using primary research. Secondary research was mainly used to obtain key information about the industry’s supply chain, the total pool of key players, market classification, and segmentation, according to the industry trends to the bottom-most level and regional markets. It was also used to obtain information about the key developments from a market-oriented perspective.

Primary Research

Extensive primary research was conducted after acquiring extensive knowledge about the microscope software market through secondary research. Primary interviews were conducted with market experts from both the demand-side (such as diagnostic centers, researchers, and professors) and supply-side respondents (such as microscope device manufacturers and distributors as well as software developers) across all four major geographies. Approximately 30% and 70% of primary interviews were conducted with both the demand and supply sides, respectively. This primary data was collected through questionnaires, e-mails, online surveys, and telephonic interviews. Given below is the breakdown of the primary respondents:

Market Size Estimation

Both the top-down and bottom-up approaches were used to estimate and validate the total size of the microscope software market. These approaches were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

Key players were identified through extensive secondary research

Software product portfolios were studied for each player

All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources

All the possible parameters that affect the market covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data

Data Triangulation

After deriving the overall microscope software market value data from the market size estimation process explained above, the total market value data was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all the segments, data triangulation and market breakdown procedures were employed wherever applicable. The data was triangulated by studying various qualitative & quantitative variables as well as by analyzing regional trends for both the demand- and supply-side macroindicators.

Report Objectives

To define, describe, segment, and forecast the microscope software market by application, type, and end user